Sterne Agee Sees Good Things Ahead for Endo International PLC

In a report published Thursday, Sterne Agee analyst Shibani Malhotra reiterated a Buy rating and $66.00 price target on Endo International PLC (NASDAQ: ENDP).

In the report, Sterne Agee noted, “We recommend buying ENDP post the company's announcement that it has settled the majority of its AMS-related claims for $830mn. The settlement came earlier than expected and the amount is lower than we expected, further strengthening our conviction in this execution-focused management team. Given that the uncertainty around the size of the potential liability has been a major overhang for the stock, we see the removal of this as a major driver of outperformance over the next 12 months.”

Endo International PLC closed on Wednesday at $62.95.